Malaysia Has Asked Residents to Help with Paying Its Huge Debt

Politics | June 2, 2018, Saturday // 10:07|  views

The Petronas Towers loom large over Kuala Lumpur, Malaysia's capital CREDIT: AP/FOTOLIA

Malaysia's sovereign debt has reached such an extent that the government has been forced to seek help from its citizens to repay it. It launched a fundraising campaign. Over 1.7 million dollars were collected in just one day, according to Business Insider.

The fund created is called Taubung Narrarn Malaysia or the Foundation for the Future. The donations are voluntary.

"The Malaysians have taken their patriotism to another level, with their willingness to participate with some of their funds, they are helping to rebuild this nation," the finance minister said.

Malaysia's debt is equivalent to a colossal $ 251 billion, about 80% of its gross domestic product.

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Tags: Malaysia, debt


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